Jeff Albaum is a real estate investor of 5 years, studied engineering as an undergrad, interested in personal development, spirituality, and continually learning both personally and professionally. He shares how engineers have an advantage when it comes to real estate investing and how he and his partner got into the short-term rental space. He discusses how they manage their own properties and set up a company to do so at a lower cost than third-party companies.
[00:01 – 01:59] Opening Segment
- We welcome, Jeff Albaum!
- How he started buying out-of-state properties and slowly building up his portfolio
[02:00 – 25:40] Don’t Dive In Head First: Learn As Much As You Can While You Have A Job
- He believes that engineers have an advantage in real estate investing
- The majority of doors in his portfolio are small multi-family
- The acquisition strategy is to hold onto properties for as long as possible and invest in making them the best they can be
- The short-term rental industry is new and uncertain, making underwriting difficult
- Starting his own management company to outsource cleaning, maintenance, and coordinate everything
- Building systems and processes to increase communication and transparency
- Bringing on a maintenance person and guest messaging experience coordinator
[25:41 – 35:36] THE FINAL FOUR
- What's the worst job that you ever had?
- Working at a bakery
- What's a book you've read that has given you a paradigm shift?
- “Can’t Hurt Me” by David Goggins
- What is a skill or talent that you would like to learn?
- Learn a new language
- What does success mean to you?
- Jeff Albaum says, “Success would be day-to-day doing things that fill you up.”
Connect with Jeff Albaum:
LinkedIn: Jeff Albaum
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Tweetable Quotes:
“When we started the company together, our whole thing was we wanted to be there for everyone's big moments.” – Jeff Albaum
“Learn as much as you can about it while you have your job, start investing while you have your job, and don't leave your job until you are very, very clear on your actual cash flow coming in on a regular basis.” – Jeff Albaum
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